Comments on: America: Banana Republic Watch http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch.html Sat, 21 Nov 2009 22:38:01 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Elwood http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch.html#comment-18332 Elwood Mon, 29 Sep 2008 21:37:00 +0000 http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch/#comment-18332 One commonly held feature of the Banana Republic is dynastic rule. Just look at our last few presidents: G.H.W.Bush/Clinton/G.W.Bush<br/><br/>And, don't forget that Hillary (Clinton) was and remains a stone's throw from the White House. One commonly held feature of the Banana Republic is dynastic rule. Just look at our last few presidents: G.H.W.Bush/Clinton/G.W.Bush

And, don’t forget that Hillary (Clinton) was and remains a stone’s throw from the White House.

]]> By: Anonymous http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch.html#comment-13887 Anonymous Mon, 01 Sep 2008 15:40:00 +0000 http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch/#comment-13887 What's so surprising about our becoming a de facto banana republic? We became one philosophically back in the '60s and '70s. It's taken quite a while (we had a lot of momentum to dissipate), but we're finally showing signs of becoming one economically. One follows the other as night follows day. What’s so surprising about our becoming a de facto banana republic? We became one philosophically back in the ’60s and ’70s. It’s taken quite a while (we had a lot of momentum to dissipate), but we’re finally showing signs of becoming one economically. One follows the other as night follows day.

]]> By: Francois http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch.html#comment-11386 Francois Tue, 15 Jul 2008 18:11:00 +0000 http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch/#comment-11386 Other indicators<br/>1) Extreme militancy by neocon denialists like dearieme<br/><br/>2) The fact that said denialist, can listen talking heads in the media (O'Reilly, Beck, Smerchonish Ingram Savage Coulter) that nurtures their twisted beliefs Other indicators
1) Extreme militancy by neocon denialists like dearieme

2) The fact that said denialist, can listen talking heads in the media (O’Reilly, Beck, Smerchonish Ingram Savage Coulter) that nurtures their twisted beliefs

]]> By: Gary http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch.html#comment-5607 Gary Sat, 22 Mar 2008 09:37:00 +0000 http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch/#comment-5607 People are paying for reports that try to remove the BS from government statistics.<br/><br/>http://www.shadowstats.com/ People are paying for reports that try to remove the BS from government statistics.

http://www.shadowstats.com/

]]> By: dearieme http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch.html#comment-2796 dearieme Tue, 01 Jan 2008 13:21:00 +0000 http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch/#comment-2796 Other indicators<br/>1) Electing Bill Clinton.<br/>2) Considering electing a previous President's wife. Other indicators
1) Electing Bill Clinton.
2) Considering electing a previous President’s wife.

]]> By: unlawflcombatnt http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch.html#comment-80 unlawflcombatnt Tue, 15 May 2007 22:19:00 +0000 http://www.nakedcapitalism.com/2007/05/america-banana-republic-watch/#comment-80 Thanks for an excellent assessment of the "banana-republic-ness" of our economy. I've tried to follow and track the government's concocted statistics for over 2 years, and they appear to be more a work of fiction than actual reality. <br/><br/>The links were also very helpful. especially to the GDP deflator site on Wikipedia, which gave one of the best descriptions of Hedonics that I've ever seen. The post by Mish was also helpful in itself, as well as the link posted to the article <a HREF="http://www.post-gazette.com/pg/05129/501565.stm" REL="nofollow">An Inflation Debate Brews over Intangibles at the Mall</a> from 2005.<br/><br/>Hedonics is not a tool to accurately calculate inflation. It's a tool to reduce the calculated number by any means possible. Hedonics blindly adds value to items wherever possible. What is ignored is that in many cases the new item is purchased simply as a replacement for a non-functioning cheaper product purchased in the past. If a buyer needs to replace a $200 computer with a $600 computer, because no $200 computers are available anymore, it makes little difference whether hedonics calculates the value of the $600 computer at $1,000 dollars. The buyer still has to pay $400 more for the new $600 computer than he did for his old $200 computer. The buyer didn't "save" $400 on the allegedly undervalued $600 computer. He "lost" $400 by having to pay $400 more for the new computer than he paid for the old one. That's inflation in my book, as it increases the amount of money the buyer had to spend to replace the $200 computer, and reduces the amount of money available to spend on other goods by $400. <br/><br/>Also ignored in the "hedonics" concoction is that many of the additional "improvements" have NO value to the buyer. The buyer is simply forced to pay for them, if he wants to replace his older, non-functioning computer.<br/><br/><a HREF="http://www.unlawflcombatnt.proboards84.com" REL="nofollow">Economic Populist Forum</a> Thanks for an excellent assessment of the “banana-republic-ness” of our economy. I’ve tried to follow and track the government’s concocted statistics for over 2 years, and they appear to be more a work of fiction than actual reality.

The links were also very helpful. especially to the GDP deflator site on Wikipedia, which gave one of the best descriptions of Hedonics that I’ve ever seen. The post by Mish was also helpful in itself, as well as the link posted to the article An Inflation Debate Brews over Intangibles at the Mall from 2005.

Hedonics is not a tool to accurately calculate inflation. It’s a tool to reduce the calculated number by any means possible. Hedonics blindly adds value to items wherever possible. What is ignored is that in many cases the new item is purchased simply as a replacement for a non-functioning cheaper product purchased in the past. If a buyer needs to replace a $200 computer with a $600 computer, because no $200 computers are available anymore, it makes little difference whether hedonics calculates the value of the $600 computer at $1,000 dollars. The buyer still has to pay $400 more for the new $600 computer than he did for his old $200 computer. The buyer didn’t “save” $400 on the allegedly undervalued $600 computer. He “lost” $400 by having to pay $400 more for the new computer than he paid for the old one. That’s inflation in my book, as it increases the amount of money the buyer had to spend to replace the $200 computer, and reduces the amount of money available to spend on other goods by $400.

Also ignored in the “hedonics” concoction is that many of the additional “improvements” have NO value to the buyer. The buyer is simply forced to pay for them, if he wants to replace his older, non-functioning computer.

Economic Populist Forum

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